what happens to my debts?- z reverse mortgage

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Post on 13-Apr-2017

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You can use your home as your primary residence till you want. You don’t need to make payments. In any case, the home is no longer your primary residence, you leave the home, or you died. Then your loan will become due. You or your heirs will have to either pay off the loan or sell the property. After selling the property the clearance of all dues the balance amount will be returned to you or your heirs.

When you opt for Reverse Mortgage all misconceptions can be clearly asked to the counsellor. There are no risks to opt for the reverse mortgage your property will always yours and when it is no longer you will receive the amount.